One of the largest bitcoin and cryptocurrency exchanges in the world, Kraken, has announced an investment from a leading Japanese foreign exchange brokerage, in the exchange’s Series B round of financing.
Cryptocurrency exchange Kraken has announced an investment from Tokyo-based Money Partners Group as a part of its Series B round of financing, in a press release today.
Money Partners Group holds a market cap of over $260 million and is among the leading foreign exchange brokerages in Japan with over 270,000 client networks. The terms of the investment were not disclosed.
This would mark the second investment from a Japanese firm in Kraken’s Series B round of financing after the exchange revealed a “multi-million dollar agreement” with Japan’s leading venture capital firm SBI Investment in Feb 2016. Bitcoin & Ethereum Makes Gains
Beyond its investment with Kraken, Money Partners Group has also announced a business alliance which the cryptocurrency exchange. The alliance will see over 270,000 client networks belonging to Money Partners Group enabled with bitcoin trading & settlement services along with blockchain-based derivative trading to its clients.
In statements via a press release, Money Partners Group president and representative director Taizen Okuyama stated: Cryptocurrency and blockchain technology will bring about a future in which digital and digitized assets are commonplace…The movements behind Bitcoin and Ethereum have grown too large to ignore. The comment from the president of one of Japan’s largest FX brokerages underlines the prominence gained by cryptocurrencies, chief among them Bitcoin and Ethereum.
Following the capture of the exchange’s latest investor, Kraken CEO Jesse Powell stated: Our new relationship with Money Partners Group is a huge win for Bitcoin and Ethereum awareness and adoption around the world. The results we will achieve together will show other financial institutions why they should embrace digital assets and blockchain technologies. Kraken […]
